Ripple’s Bank-Style Lending on XRPL Nears Launch: What XRP Holders Actually Get

The LendingProtocolV1_1 amendment on the XRP Ledger (XRPL) has collected 22 of 35 votes (62.86%). Three more validators have signed on over the past three weeks. Ripple's own nodes have already voted yes, along with the University of Waterloo and UC Berkeley. To go live, the amendment has to clear the 80% bar (29 votes) and hold it for two straight weeks. The related SingleAssetVault amendment (XLS-65) has 23 votes (65.7%) and needs six more. The XLS-65 and XLS-66 standards drop overcollateralization and instant liquidations and let companies take out fixed-term, uncollateralized loans directly on XRPL. The loans work similarly to traditional bank credit, with a fixed term and pre-set interest terms.

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